Mark-up: Difference between revisions
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{{a|brokerage| | {{a|brokerage|[[File:Hindenburg.jpg|450px|thumb|center|Launch party for the [[2011 Equity Derivatives Definitions]]]] | ||
[[File:Hindenburg.jpg|450px|thumb|center|Launch party for the [[2011 Equity Derivatives Definitions]]]] | }} | ||
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===[[Mark-up|Broker’s mark-up]]=== | ===[[Mark-up|Broker’s mark-up]]=== | ||
A [[mark-up]] (or [[mark-down]]) is a [[dealer]]’s way of making money: the equivalent in a [[principal]] arrangement to [[commission]] paid to an [[agent]]. | A [[mark-up]] (or [[mark-down]]) is a [[dealer]]’s way of making money: the equivalent in a [[principal]] arrangement to [[commission]] paid to an [[agent]]. | ||
Revision as of 13:45, 4 October 2020
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Brokerage Anatomy™
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Broker’s mark-up
A mark-up (or mark-down) is a dealer’s way of making money: the equivalent in a principal arrangement to commission paid to an agent.
Legal mark-up
Not to be confused with a legal mark-up, an impenetrable melange of passives, passive-aggressives, redundancies, flannel and non-sequiturs injected into a perfectly sensible contract by a perfectly tedious attorney. The sheer inscrutability of one’s mark-up is a criteria for inhouse legal team of the year.
Mark-up language
Also not to be confused with a mark-up language which is a way of coding ordinary text in a way that machines can understand. This works quite well sometimes: The internet runs on hypertext mark-up language — “html”— an acquired taste but one which any fule can understand with a little patience; the fabulous {{MediaWiki}} runs on [[wiki mark-up]], which even dear old five-thumbed Jolly Contrarian can understand — but other adventures have been less successful. There are lawyers at Linklaters who still can’t communicate unemotionally, having coded the entirety of the 2011 Equity Derivatives Definitions— remember those? No? — in Financial products Markup Language.